Ep. 17 – Ron Heath – How a Reverse Mortgage Helps In Retirement
Is a reverse mortgage right for you?
If you’re retired or headed towards retirement and thinking about buying a property, a reverse mortgage could be the answer you’re looking for. A reverse mortgage is essentially a mortgage loan that allows the borrower to access the property’s unencumbered value. Unlike typical mortgage loans, reverse mortgage loans typically do not require monthly mortgage payments and are usually offered to older homeowners.
We get asked about reverse mortgages all the time, which is why we invited Ron Heath onto this episode of the podcast. Ron is an expert in reverse mortgages with over 13 years of experience in the reverse mortgage field. In this episode, he shares his thoughts on reverse mortgages and how they can help you in retirement.
In this episode find out:
- Why Ron is passionate about reverse mortgages
- The difference between traditional mortgages and reverse mortgages
- How to access the equity in your home with a reverse mortgage
- How home equity differs from reverse mortgages
- Reasons why a reverse mortgage is beneficial for people in retirement
- A step-by-step walkthrough of how a reverse mortgage works
- How to transition from one house to a new house
- How a reverse mortgage works in terms of inheritance and how it impacts heirs
- How a reverse mortgage can be used for anyone considering this route with investments in the stock market
- Common misconceptions around reverse mortgages
- How to learn more about reverse mortgages and get the ball rolling
- Why counseling sessions are important during the reverse mortgage process
“There’s no payment obligation associated with a reverse mortgage.”
“Counsellors have been mandated not to offer an opinion. Their whole role is to educate.”
“A reverse mortgage line of credit can never be frozen. It can never be reduced; it can never be canceled, unless the borrower is not meeting their obligations.”
Important Links & Mentions
Ron Heath’s website: https://mutualraleigh.com/
Ron’s phone number: 919-412-0686
Ron’s email address: email@example.com
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